Holst Mortgage Group

Purchase Products

FHA 203K: I want to buy a house that needs some repairs.

FHA LOAN: I don't have a lot of money for a down payment.

MegaStar Financial offers the Federal Housing Administration Loan (FHA) to assist borrowers who may need a low down payment and flexible mortgage guidelines. The FHA loan is a great product that helps many people refinance or become homeowners.

• As little as 3.5% down payment required - Can be a gift; see your MegaStar Mortgage Loan Officer for details. • Credit Scores as little as 600 maybe eligible. • Seller can contribute up to 6% of the borrower's closing costs.

VA LOAN: I am active Military or a Veteran.

MegaStar Financial is proud to offer those who have served and are currently serving the Veteran's Affairs (VA) loan. The VA loan is an excellent loan that assists our Nation's Veterans with obtaining homeownership.

• Up to 100% financing available. • No monthly mortgage insurance. • Seller concessions up to 4% of the reasonable value of the property. • Credit scores as low as 600 may be eligible. • Surviving spouse may be eligible, as determined by VA. • Must be a Veteran, Active Duty Military, or member of the Reserves.

USDA LOAN: I want to live in a rural area.

MegaStar Financial assists borrowers in rural areas with the USDA or rural development loan program. The USDA loan provides low and moderate income borrowers with better affordable housing finance options with little or no down payment or out of pocket costs. The property must be located within a USDA designated area.

• 100% financing available to qualified borrowers. • Seller can contribute up to 6% of the borrower's closing costs. • Flexible mortgage guidelines. • Income and property restrictions do apply.

Bond Program: MegaStar Financial is a proud supporter of the State & Local mortgage programs that assist low to middle income homebuyers with possible down payment and closing cost assistance.

• Non repayable grants up to 4% and second mortgage options up to 5% of the loan amount are available. • Not limitied to first time homebuyers. • Programs vary by State & Region. Contact your MegaStar Mortgage Loan Officer for details.

ARMS: MegaStar Financial offers sophisticated mortgages to borrowers who may not expect to be in the home for a long period of time. The adjustable rate mortgage is fixed for a period of time and can adjust thereafter. Your MegaStar Mortgage Loan Officer will be glad to assist you in determining which mortgage program will best fit your needs. Since the interest rate may rise over time, it is not recommended for every borrower. Interest rates can be fixed for three, five, seven and ten years.

JUMBO LOAN: I need a loan amount above $424,100.

Jumbo: Due to MegaStar Financial's strength and stability, we have relationships with institutional investors that enable us to offer mortgage amounts up to $3 million dollars. The jumbo mortgage product is a loan amount above $424,100.00 (Higher in some high cost counties.); speak with your MegaStar Mortgage Loan Officer today.

HOMEREADY: I would like a low fixed rate & reduced mortgage insurance.

HomeReady: We have been authorized to participate in Fannie Mae's HomeReady Program for low to moderate income borrowers.

CONVENTIONAL FIXED RATE LOANS: I have a 20% down payment and want to make sure my rate stays the same.

Conventional Fixed Rate: Our most popular mortgage product, fixed rate conventional mortgage offers the stability of a fixed interest rate throughout the life of your mortgage loan, which will provide you stability of budgeting your finances. Over time, the fixed rate becomes more manageable as your household income increases.

• No mortgage Insurance. • Down Payments as low as 3% available for qualified borrowers.• Provides for cash out refinances. • Loan amounts available up to $424,100 (higher in certain high cost areas.) • 10, 15, 20, and 30 year terms available.